ENG-1994 — Page 536

APPENDICES

APPENDIX 9

(Chapter 5: The Economy)

Government Expenditure and the Economy

$ Million

Revised

Actual

Actual

Actual

Actual

Estimate

1990-91

1991-92

1992-93

1993-94

1994-95

Government Expenditure (see Appendix 10)

Operating Expenditure

61,469

71,677

85,024

96,958

107,658

Less grant to Lotteries Fund

(2,300)

grant to Regional Council

(274)

61,195

71,677

82,724

96,958

107,658

Capital Expenditure

Less debt repayment

17,873

18,720

22,247

38,246

39,543

(1,200)

(2,400)

17,873

18,720

22,247

37,046

37,143

- Total Government Expenditure

79,068

90,397

104,971

134,004

144,801

Add other public sector bodies

16,130

18,025

18,522

21,203

26,051

Total Public Expenditure*

95,198

108,422

123,493

155,207

170,852

Gross Domestic Product (GDP) at

current market prices (calendar year)

582,549

668,512

779.335

897,595†

1,019,228†

Growth in GDP:

Nominal terms

11.2%

14.8%

16.6%

15.2%†

13.6%†

Real terms

3.4%

5.1%

6.3%

5.8%*

5.5%+

Growth in Public Expenditure:

Nominal terms

16.2%

13.9%

13.9%

25.7%

10.1%

Real terms

2.3%

3.3%

3.7%

15.2%

0.7%

Public Expenditure as percentage of GDP

16.3%

16.2%

15.8%

17.3%

16.8%

478

Note:

*

The public expenditure comprises expenditure by the trading funds, the Housing Authority, the Urban Council and the Regional Council, and expenditure financed by the Government's statutory funds and all expenditure charged to the General Revenue Account. Expenditure by institutions in the private or quasi-private sector is included to the extent of their subventions. The payments of government departments which are wholly or partly financed by charges raised on a commercial basis are also included (e.g. airport, waterworks). But not included is expenditure by those organisations, including statutory organisations, in which the Government has only an equity position, such as the Mass Transit Railway Corporation and the Kowloon-Canton Railway Corporation. Similarly, equity payments are excluded as they do not reflect the actual consumption of resources by the Government.

†The estimates are subject to revisions later on as more data become available.